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Economy outlook positive pending reform acceleration, says World Bank

 

Date: 2019-06-21

News Type: Marketing News

 

After a period of volatility during the six-month transition period between April and September 2018, growth in Myanmar has stabilised and the economy is expected to expand at a rate of 6.5 percent in the current 2018-19 fiscal year, according to the World Bank’s June 2019 Myanmar Economic Monitor.

Supported by higher productivity in the sectors currently undergoing liberalisation, such as the retail and wholesale and insurance sectors, and backed by a continuous roll-out of the state reform agenda, growth should accelerate to 6.7pc by fiscal 2020-21, said Hans Anand Beck, lead economist at the World Bank.

“Building reform momentum now is critical. There are signs that market sentiment is rising as the reforms promised under the Myanmar Sustainable Development are gradually being passed. For instance, insurance liberalisation, tax reform and transparent investments in the power sector,” he said.

 

Source From:The Myanmar Times

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